USD/JPY Discussion

when you say "Our recommendation: Market is ranging", you and who else make up the "our"?

You and your team of finance quants?

trading is more of being with the market than doing all those high end analysis

from our team

The Bank of America Merrill Lynch pay attention to the stability of the dollar/yen in the face of the growing trade war and believe that this phenomenon can be sustainable.

U.S. President Donald Trump intends to introduce tariffs on Chinese goods totaling $34 billion on Friday morning, but this does not prevent growth in the stock market, which helps to maintain pressure on the offer around 110.70 in the USDJPY. currency strategists of Bank of America Merrill Lynch state that unlike the yen crosses, this currency pair proved to be extremely resistant to the decline of risk appetite against the background of the threat of a large-scale trade war, and consider such behavior quite justified.

The currencies of developing countries, in the context of the darker prospects of world trade, have proved to be a weak link, but the yen, coupled with the dollar, has not been able to play the role of a safe haven currency. Investors do not yet believe that the US and China after a series of exchange of blows will not be able to agree, while in trade disputes more vulnerable in their eyes see us opponents. As a result, one of the main topics in the news space is the tightening of the fed's policy, and BofAML believes that until market participants revise the risk assessment of weaker growth of the US economy, and hence the fed's rates, the divergence between the USDJPY and the Nikkei225 index can remain. The Bank notes that one of its reasons was the combination of reduced exposure of foreign investors in Japanese securities and a record outflow of capital associated with m&a (mergers and acquisitions) involving Japanese companies. BofAML reminds that the latter is a structural trend that reflects the aging of the Japanese population.

Most of the time the majority are wrong. That also goes for the majority of economists and market pundits.

As well beware of market pundits in particular - who may be doing the opposite of what they are saying in public.

Market Analysis: market is still ranging for USDJPY, follow our upper & lower band levels & until price hits one of these levels DON'T enter for any trade.

Trading charts: M15, M30, H1, H4
Our recommendation: Market is ranging

upper band level 1: 110.854
upper band level 2: 111.148
lower band level 1: 110.099
lower band level 2: 109.798

Time: July 6, 8:13 AM (UTC+6)

I haven't delved to deep in this, but I would love to buy up a lot of USD when the time comes. This is very clear range action.

A swing below 110 would have a lot of demand. Do not underestimate the potential power of a strong upswing. The USA is on fire!!! And it will be for many years to come. Don't later think 'what if...'

maybe 110.13 it the 61.8 fib for the the current pattern. good luck everyone.

110.30 could be a good long entry.

Looks purely drop. A very strong supply area is above. Price wants to rest. Let it rest guys.

Moment of truth!

I think its a clear sell off

A bomb is ready to explode alright. A bomb called Mueller.

close the short position. I have held these for almost 1 week.

The USD/JPY is trading lower today around 110.50 after the US NFP data. The greenback might recover ground on the better-than-expected numbers but the pair needs to advance beyond 111.00 in order to extend its advance up to 111.40.

Hi, Breaking up above 111.38 would be one of biggest surprises in my life.
but then again... life is full od surprises, isn't it?
Besides following days migth shows us some up moves (take as much as you can), i believe that major move will be down way...
besides me, who knows?

Keep em. But don’t sell too soon, a drawdown is quite likely but with that volume it will be minimal.

When I sit down to trade I don't have a bullish or bearish expectation, I try to respond to what the market's doing and just get into a profit trade. Having said that, and not currently being in a trade, here is my prediction of the next few days. Unless BOJ gets things started Monday I think there'll be an exploration of trendlines until late Tue/early Wed then when everyone is pulling their hair out, a definitive blow out. I'm curious what other people think will happen.

No surprise to me. Will hit 112 or quite close.